First Time Home Buyers

Doing anything for the first time can be tough, especially when it's as important as buying a home. As a first-time buyer, you will be bombarded by a seemingly-endless stream of information and advice from friends, family, and your real estate agent. Of course, not all advice is good; in fact, even repeat buyers can fall prey to common mistakes and misconceptions in their search for a place to call home. To help cut through the noise, Realtor Magazine recently wrote about three of the most common mistakes made by first-time (and repeat!) buyers.

For the last several years, millennials have been the largest demographic in the housing market, accounting for 34% of home buyers in 2017; it's no surprise then that tracking their influence has become a point of great interest among industry organizations such as LendingTree. The online loan marketplace recently sought to quantify which cities attracted the largest proportion of millennial buyers. They found that Youngstown ranked as one of the ten most popular housing markets for millennial buyers, with 38.6% of its mortgage requests coming from the young group!

As dwindling inventory continues to push home prices to greater and greater highs, many urban housing markets have risen completely out of reach of the typical home buyer. In no segment is this effect felt more profoundly than among first-time buyers, who lack the financial boon of having sold a previous house to pay for a new abode. Enter LendingTree, which sought to rank the nation's 100 largest cities according to several factors related to housing affordability. They found that Youngstown ranked as the fourth-most affordable city in the United States for first-time home buyers!

All information is believed to be reliable, but is not guaranteed and should be independently verified with a real estate professional. Klacik Real Estate is a member of the National Association of REALTORS® Equal Housing Opportunity.